UPDATE: Stifel Nicolaus Raises PT to $40 on Theravance on Improved Risk Profile

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Stifel Nicolaus reiterated its Buy rating on Theravance
THRX
and raised its price target from $28 to $40. Stifel Nicolaus noted, "We believe recently-announced top-line P3 LAMA/LABA data implies a relatively clear regulatory path forward and our physician conversations suggest the utilization of these combined mechanisms of action should gain considerable traction/adoption in those moderate/severe COPD patients whom require prolonged/significant bronchodilation." Therevance closed at $29.49 on Friday.
Posted In: Analyst ColorPrice TargetReiterationIntraday UpdateAnalyst RatingsStifel Nicolaus
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